Nike Says Job Cuts at Oregon Headquarters to Total More Than 700
Nike Inc. will have eliminated about 740 jobs at its headquarters by late June as part of its multiyear cost-cutting plan.
A global pandemic is bad news for any number of businesses, but for Chinese daigou agents, strict travel limits and tighter regulations are putting the future of their entire industry at risk.
Consumers in the key luxury market have been buying more handbags and watches at home instead of abroad in recent months.
Widening losses in the US and Europe and a company supply shortage caused a 29 percent slide in fourth-quarter operating profit, despite an 8.9 percent rise in 2018 sales.
The sale of luxury goods on the grey market is a lucrative and largely unspoken practice in the fashion industry. Why are brands so hush-hush about it and do they really want it to end?
ADVERTISEMENT
Louis Vuitton, Gucci, Hermès and Burberry all reduced their prices in China this month. Who is next and how will this impact the bottom line?
The China Edit is a weekly curation of the most important fashion business news and analysis from and about the world’s largest luxury market.
ADVERTISEMENT
Nike Inc. will have eliminated about 740 jobs at its headquarters by late June as part of its multiyear cost-cutting plan.
Procter & Gamble raised its annual profit forecast on lower commodity costs and as consumers, particularly in the United States and Europe, kept buying its pricey Tide detergent and Dawn dish soap.
Frédéric Malle announced on Apr. 18 that he will be leaving his brand Editions de Parfums Frédéric Malle at the end of June.
The two brothers join older siblings Antoine and Delphine, meaning that 4 out of Arnault’s 5 heirs now serve on the board. Bernard Arnault, age 75, has placed his controlling interest in LVMH in a stock-share partnership aimed at perpetuating family control.
Billionaire Bernard Arnault said he hopes a planned visit to France next month by China’s Xi Jinping will help smooth trade relations between Paris and Beijing.
Alyson Hogg, who founded the luxury tanning brand in 2003, has reacquired it from Crown Laboratories.
Monthly Swiss watch exports suffered their biggest decline since 2020 as demand for premium and luxury timepieces in key markets including China and Hong Kong plunged.
Asos has said it will take “necessary actions” to transform its fortunes after the fast fashion retailer’s first-half losses widened and sales fell by nearly a fifth.